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Thread: CBO: Stimulus hurts economy in the long run

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by AdamT View Post
    Like I said, don't listen to Glenn Beck. It will numb out what's left of your mind.
    One can only assume you must if you know his position on things.

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by 1Perry View Post
    One can only assume you must if you know his position on things.
    I listen to him for the comedic value.

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by AdamT View Post
    I guess you could reach that conclusion if you think Glenn Beck is a historian. If, OTOH, you read actual historians, you will hear a different story.
    No, you won't.

    Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.

    After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.

    "Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump," said Ohanian, vice chair of UCLA's Department of Economics. "We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies."

    In an article in the August issue of the Journal of Political Economy, Ohanian and Cole blame specific anti-competition and pro-labor measures that Roosevelt promoted and signed into law June 16, 1933.
    FDR's policies prolonged Depression by 7 years, UCLA economists calculate / UCLA Newsroom

    Only blind hacks still believe FDR helped anyone during the GD, he was instrumental in making it drag out, and hurt so much. Had it NOT been for WWII, who knows when the pain would have ended.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by MrVicchio View Post
    No, you won't.


    FDR's policies prolonged Depression by 7 years, UCLA economists calculate / UCLA Newsroom

    Only blind hacks still believe FDR helped anyone during the GD, he was instrumental in making it drag out, and hurt so much. Had it NOT been for WWII, who knows when the pain would have ended.
    Notice how quick Adam is to respond to comments but how slow he is to respond to links that prove him wrong. Liberals always try and re-write history or ignore it just like they are doing with the Obama record.

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by MrVicchio View Post
    No, you won't.


    FDR's policies prolonged Depression by 7 years, UCLA economists calculate / UCLA Newsroom

    Only blind hacks still believe FDR helped anyone during the GD, he was instrumental in making it drag out, and hurt so much. Had it NOT been for WWII, who knows when the pain would have ended.
    Right, Herbert Hoover had the right idea. That's why he's so admired by economists and historians.

    Roosevelts' policies were working exceptionally well until he allowed some dimwitted conservatives to convince him that it was time to cut spending and lower taxes. That sent the economy back into the tank. It did not recover until the massive stimulus program that was WWII put an end to that insanity.

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by Conservative View Post
    Notice how quick Adam is to respond to comments but how slow he is to respond to links that prove him wrong. Liberals always try and re-write history or ignore it just like they are doing with the Obama record.
    Anyone can find an outlier paper to support a given position. The vast majority of economists would disagree wtih the UCLA paper.

    Did FDR’s New Deal policies really prolong the Great Depression? Will Obama’s policies have a similar effect? Rebel

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by AdamT View Post
    Anyone can find an outlier paper to support a given position. The vast majority of economists would disagree wtih the UCLA paper.

    Did FDR’s New Deal policies really prolong the Great Depression? Will Obama’s policies have a similar effect? Rebel
    So since economists can disagree why is it you cannot accept that many economists disgree today on the success of the Obama stimulus plan and claim that we are worse off today than when Obama took office? Can you explain to me how any economist can claim that Obama economic policies have been a success? You point to saved jobs but there is no source that counts saved jobs, only projections. You point to saving the economy but there is no data that supports that contention nor any non partisan site that makes that claim. You point ot things could have been worse and I point to things should be better with 4.4 trillion added to the debt.

    Can anyone explain to me why Obama still has the support he has today in the face of actual verifiable non partisan economic results?

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by AdamT View Post
    Anyone can find an outlier paper to support a given position. The vast majority of economists would disagree wtih the UCLA paper.

    Did FDR’s New Deal policies really prolong the Great Depression? Will Obama’s policies have a similar effect? Rebel
    Did you even read your link?

    So basically, what the 2004 UCLA study concluded was that inflated prices and wages were the cause of the slowed recovery, and the NIRA which FDR signed into law was the cause of that inflation, resulting in a 60% weaker recovery.

    Continued.

    However, because NIRA was deemed unconstitutional by the Supreme Court two years after it was enacted, a repeat of this particular economic policy mistake by the Obama administration would be impossible.

    The QE programs are basically the same thing so yes, Obama can and did make the same mistake. Continued again.

    While NIRA may have been somewhat of a blunder in terms of New Deal solutions, it was but one of many policies instituted by FDR, and although Cole and Ohanian present a good case, the general consensus remains that New Deal policies by and large were successful.

    Wow, so a program where it created a huge drag on the recovery can still be considered a success? LOL

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by 1Perry View Post
    Did you even read your link?

    So basically, what the 2004 UCLA study concluded was that inflated prices and wages were the cause of the slowed recovery, and the NIRA which FDR signed into law was the cause of that inflation, resulting in a 60% weaker recovery.

    Continued.

    However, because NIRA was deemed unconstitutional by the Supreme Court two years after it was enacted, a repeat of this particular economic policy mistake by the Obama administration would be impossible.

    The QE programs are basically the same thing so yes, Obama can and did make the same mistake. Continued again.

    While NIRA may have been somewhat of a blunder in terms of New Deal solutions, it was but one of many policies instituted by FDR, and although Cole and Ohanian present a good case, the general consensus remains that New Deal policies by and large were successful.

    Wow, so a program where it created a huge drag on the recovery can still be considered a success? LOL
    Umm, you do realize that you completely contradicted yourself? Obama's programs are not the same as NIRA. As you just stated, that's not even possible under SC jurisprudence.

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by AdamT View Post
    Umm, you do realize that you completely contradicted yourself? Obama's programs are not the same as NIRA. As you just stated, that's not even possible under SC jurisprudence.
    1. Your link said that FDR's programs created a huge drag on the recovery.
    2. Like your link, you must not have actually read what I wrote.

    NIRA was deemed a failure because it created inflation which was a drag on the economy. QE created inflation which has been a drag on the economy.

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